Australian market set to open lower

THE Australian market looks set to open lower following falls on Wall Street on Friday.

THE Australian market looks set to open lower following falls on Wall Street on Friday.

The June share price index futures contract was down nine points at 5,6732.

On Friday, US stocks finished lower after Federal Reserve Chair Janet Yellen said the plan to raise interest rates this year was on track.

Locally on Monday, OZ Minerals and Reef Casino Trust holds its annual general meetings.

In Australia, the market on Friday finished flat after weakness among the big four banks offset strong gains among energy stocks. The benchmark S&P/ASX200 index was up 2.4 points, or 0.04 per cent, at 5,664.7 points.

The broader All Ordinaries index was up 4.6 points, or 0.08 per cent, at 5,668.2 points.